The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-12-17
COMMERCE AND FINANCE.
GROWING CONFIDENCE IN CON-
GRESS HELPS MATTERS.

Clear Though Moderate Improves
ment in the Outlook Indicated by
Dun Sc Co.'S Adhesive Parties
Selling Wool at Low Figures-Cotton
Shade Stronger.
New York, Dec 16.--R. G. Dunn & Co. 3
review of trade for the week says: There is
clear, though moderate improvement in the
commercial and industrial outlook, mainly
due to growing confidence, mentioned in
reports from several interior cities, that
Congress will finally do nothing prejudicial
to business interests. At the same time it Is
at many points observed that uncertainty
in regard to the action of Congress tends to
restrict purchases and contributes to weak
ness IN some markets, monetary anxieties
diminish, and speculation in products
abates.
Iron production, by many considered q
reliable barometer of business. falls little
below the unprecedented output Of
Nov. |. The output Dec. /, was 140,04
tons weekly, according to New York re-
turns, almost 1000 tons smaller in bitumin-
GUS and coke IRON, and a little smaller in
anthracite and charcoal iron than the out
put month ago. Pittsburg returns made
IDLE FURNACES.
Some furnaces have stopped work since
Dec. l.. Southern competition, though real,
is not extensive and is mostly due to tinan-
cial necessities in one district A force Of
wider influence is scanty demand for rails
consequent increase in the production of
foundry iron 10y furnaces hitherto engaged
in making Bessemer. 1t is held that the new
sales of rails for next year do not yet aggre-
gate more than 100000 tons aud
large buyers still hold off. The
statement that a single sale was
made on terms netting $3l, is questioned,
and transactions agaregating $1,000 tons
are reported at $32. Bar iron is less strong,
and some mills are running on short time,
but nails appear firmer.
WOOL QUIET.
Fine woods are quiet and medium wools
stronger, though sales at low figures by
weak parties are still mentioned Growers
express confidence that no reduction of
duties will be made, but the manufacturing
demand does not answer expectations. The
dry goods trade, very moderate in all
branches, is particularly dull in woolens.
and the stiffness in cottons is attributed to
a scarcity of ready supplies rather than to
large fresh orders.
The boot and shoe trade improves with
better Western and good Southern business,
and the leather market still favors the
buyers
Curtailment in pork packing is given as
reason for the speculative strength in
pork products though hogs are lower.
WHEAT AND FLOUR EXPORTS.
The exports Of wheat and -four for the
five months ending with November fall
below those of the corresponding months
last year, and the decrease which appears in
November, if continued through the crop
year. would leave large unsold surplus to
be carried over July l. The sales were
A, 900, 600 bushels Of wheat and 5000, 900
bushels of corn.
Oil has not materially changed
Cotton is a shade stronger. with sales of
597, 900 bales, and coffee, with sales of 4S4,-
600 bags.
No lack of money checks speculative ac-
tivity. The supply is abundant, and the
large demand for money is now fairly met,
The Treasury @ded 81, ,6OO, 900 to the bank
deposits, and 50 took only $500, 900 from cir
culation for the week
LESS MONETARY PRESSURE.
The interior reports indicate less monetary
pressure, though tie market at some points
is still clo:e. Complaints of slow collec-
tions continue, but are less general The
past pressure is reflected, however, in an
unusually large number of failures.
Foreign trade improves, the exports of
the more important products exceeding
those for the same month last year by
1,478, 600, though the imports at New York
increased SO, 10000
Though figures and the course Of foreign
exchange indicate that foreign capital still
moves TO this country, rather than out of
it, the stock market has declined on the
average about ~ cents per share and grows
dull Earnings continue good.
A general agreement as to dressed beef
rates has been reached and an advance in
export rates ia promised, but the public
takes but little part in trading. and the
operation Of the interstate act ends steadily
toward a reduction Of rates at the West.
The business failures occurring through
out the country during last week number
for the United States 254 and for Canada
81, a total Of 2S8 against 254 last week, and